Press release
Floating Power Plant Market Exhibits Robust Growth, Projected to Reach $3.6 Billion by 2028
Floating Power Plant Market
Experiencing robust expansion, the floating power plant market is poised to surge from $2.58 billion in 2023 to $2.77 billion in 2024, with a Compound Annual Growth Rate (CAGR) of 7.1%. Anticipated to maintain its momentum, the market is expected to attain $3.6 billion by 2028, showcasing a CAGR of 6.8%.
Key Growth Drivers:
Energy Demand Propels Floating Power Plant Market:
The global increase in energy demand is a significant driver propelling the growth of the floating power plant market. With industrialization contributing to a surge in energy needs, floating power plants play a crucial role in managing the efficient flow of electricity in various industries. According to the International Energy Agency (IEA), the global electricity demand witnessed a 4% increase, equivalent to 1,000 terawatt hours (TWh), highlighting the growing demand for energy and the consequential expansion of the floating power plant market.
Rising Solar Energy Demand Boosts Market Growth:
The escalating demand for solar energy is expected to drive the growth of the floating power plant market. Leveraging solar panels to capture sunlight and convert it into electricity, floating power plants contribute to the increasing adoption of solar energy. The International Energy Agency reported a 26% increase in solar photovoltaics (PV) energy generation in 2022, reaching nearly 1300 terawatt-hour (TWh), further fueling the growth of the floating power plant market.
Explore the Global Floating Power Plant Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7087&type=smp
Major Players:
Key players in the floating power plant market include MAN Energy Solutions SE, Mitsubishi Corporation, General Electric Company, Siemens AG, Caterpillar Inc., and others.
Trends Shaping the Market:
Technological Advancements Drive Sustainable Power Generation:
Technological advancement emerges as a prominent trend in the floating power plant market, with companies introducing innovative solutions to sustainably generate power. Linxon, a Switzerland-based power generation company, launched advanced floating substation technology in September 2021, aiming to minimize grid carbonization and potentially generate renewable electricity.
Innovative Transformers Enhance Offshore Floating Power Plant Solutions:
Companies in the floating power plant market are focusing on innovating products like transformers to enhance their offerings. Transformers designed for offshore floating applications, including collector step-up transformers and wind turbine transformers, overcome challenging offshore conditions and meet the demands of floating wind turbines and substations.
Regional Insights:
Europe emerged as the largest region in the floating power plant market in 2023, with Asia-Pacific expected to be the fastest-growing region in the forecast period. The comprehensive regional coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The floating power plant market covered in this report is segmented -
1) By Type: Floating Solar Power, Floating Wind, Floating Wind and Wave Power, Floating Nuclear Power, Other Types
2) By Type of Power Source: Non-Renewable Power Sources, Renewable Power Sources
3) By Capacity: 1 MW-5 MW, 5.1 MW-20 MW, 20.1 MW-100 MW, 100.1 MW-250 MW, Above 250 MW
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/floating-power-plant-global-market-report
Floating Power Plant Global Market Report 2024from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheFloating Power Plant Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on market size, market drivers and trends, floating power plant market major players, competitors' revenues, market positioning, and market growth across geographies.The floating power plant market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Power Rental Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/power-rental-global-market-report
Portable Generators Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/portable-generators-global-market-report
Electric Generators Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/electric-generators-global-market-report
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Check out our:
LinkedIn:https://in.linkedin.com/company/the-business-research-company
Twitter:https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog:https://blog.tbrc.info/
Healthcare Blog:https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
About The Business Research Company
The Business Research Company has published over 3000+detailed industry reports, spanning over 6500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Global Market Model - Market Intelligence Database
The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Floating Power Plant Market Exhibits Robust Growth, Projected to Reach $3.6 Billion by 2028 here
News-ID: 3364771 • Views: …
More Releases from The Business research company
Transition Toward Smart Grids Is Fueling The Growth Of The Market Due To Rising …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts._x000D_
_x000D_
Data Center Transfer Switches And Switchgears Market Size Valuation Forecast: What Will the Market Be Worth by 2025?_x000D_
The market for data center transfer switches and switchgears has experienced significant growth in the recent past. The market, which was at $3.00 billion in 2024 is projected to reach $3.32…
Cryogenic Valve For Space Market Expected to Achieve 8.9% CAGR by 2029: Growth F …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts._x000D_
_x000D_
What Is the Expected CAGR for the Cryogenic Valve For Space Market Through 2025?_x000D_
Over the past few years, the market size for cryogenic valves in the space industry has seen robust growth. The market will experience an expansion from $1.33 billion in 2024 to $1.45 billion in 2025,…
Counter Swarm Drone Technology Market Trends That Will Shape the Next Decade: In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts._x000D_
_x000D_
What Will the Counter Swarm Drone Technology Industry Market Size Be by 2025?_x000D_
The market size for counter swarm drone technology has seen a significant expansion in the last few years. It is projected to rise from $1.29 billion in 2024 to $1.62 billion in 2025, with a compound…
Emerging Trends to Reshape the Corporate Governance Services Market: Advancement …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Corporate Governance Services Market Size Growth Forecast: What to Expect by 2025?
In recent years, the market size for corporate governance services has greatly expanded. Current projections show that the market will expand from $4.65 billion in 2024 to $5.08 billion in 2025 with a compound annual growth rate…
More Releases for Power
Thermal power Market is Gaining Momentum with Enel, TATA Power, Reliance Power
The Latest Released Thermal power market study has evaluated the future growth potential of Thermal power market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, and emerging trends along with essential drivers, challenges,…
Japan Power Market Outlook to 2030, Update 2018 – The Kansai Electric Power, C …
Japan Power Market
This report elaborates Japan's power market structure and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the Japanese power market's regulatory structure, import and export trends, competitive landscape, and power projects at various stages of the supply chain is provided. The report also gives a snapshot of the power sector in Japan on broad parameters of macroeconomics, supply security, generation…
Global Power Rental Market Insight Report 2018 - Rental Power Solutions, Power E …
The global "Power Rental" Market research report gives point to point breakdown along with the data of Power Rental market’s analytical study, regional analysis, growth factors and leading companies. The research report about the market provides the data about the aspects which drive the expansion of Power Rental industry. The Power Rental market consists of large key companies who play a vital role in the production, manufacturing, sales and distribution…
Japan: Geothermal Power Market Power Plants, Regulations and Company Profiles 20 …
"Geothermal Power in Japan, Market Outlook to 2030, Update 2018-Capacity, Generation, Power Plants, Regulations and Company Profiles", is the latest report from Publisher, the industry analysis specialists that offer comprehensive information and understanding of the Geothermal market in Japan.
The report provides an in-depth analysis on global renewable power market and global Geothermal market with forecasts up to 2030. The report analyzes the power market scenario in Japan (includes conventional Hydro,…
Fluid Power Systems Market SWOT Analysis by Key Players: Parker, Eaton, Tokyo Ke …
QY Research has lately published a new report on “Global Fluid Power Systems Market: Industrial Chain Market Insights, Growth Trends and Competitive Analysis 2025,” for the forecasted period 8-years, i.e. between 2017 and 2025.
The Fluid Power Systems market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been considered…
New research on Medical Power Supply Market To 2022 Profiling SL Power Electroni …
This Global Medical Power Supply market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this…
